Berto Acquisition Corp. (NASDAQ:TACO) Sees Significant Increase in Short Interest

Key Points

• Short interest surged 159.6%, reaching 24,292 shares as of July 15, up from 9,356 shares on June 30. Short interest represents 0.1% of outstanding shares, with a short-interest ratio of 0.2 days.
• Several institutional investors increased or initiated positions in Berto Acquisition, including Berkley W R Corp., which raised its stake by 77.9%, and K2 Principal Fund, which increased its position by 39.2%.
• The stock remained at $10.48, within its $10.11–$10.65 one-year range, while Weiss Ratings maintained a “sell (D-)” rating; the analyst consensus is also “Sell.”

Berto Acquisition Corp. (NASDAQ:TACO - Get Free Report) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 24,292 shares, a growth of 159.6% from the June 30th total of 9,356 shares. Based on an average daily trading volume, of 136,365 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Berto Acquisition

A number of large investors have recently added to or reduced their stakes in TACO. Lineage Point Capital LP acquired a new stake in shares of Berto Acquisition in the fourth quarter valued at about $4,862,000. Sona Asset Management US LLC purchased a new stake in shares of Berto Acquisition during the first quarter worth about $1,697,000. K2 Principal Fund L.P. raised its position in shares of Berto Acquisition by 39.2% during the 4th quarter. K2 Principal Fund L.P. now owns 355,204 shares of the restaurant operator's stock worth $3,602,000 after purchasing an additional 100,000 shares during the last quarter. Mercuria Capital Strategies LLC acquired a new position in shares of Berto Acquisition during the 4th quarter worth about $2,747,000. Finally, Berkley W R Corp raised its position in shares of Berto Acquisition by 77.9% during the 1st quarter. Berkley W R Corp now owns 1,822,598 shares of the restaurant operator's stock worth $18,682,000 after purchasing an additional 797,864 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Berto Acquisition in a research note on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Berto Acquisition has a consensus rating of "Sell".

Berto Acquisition Stock Performance

TACO remained flat at $10.48 during trading on Monday. The company's stock had a trading volume of 28,613 shares, compared to its average volume of 97,809. Berto Acquisition has a one year low of $10.11 and a one year high of $10.65. The business's fifty day moving average price is $10.46 and its two-hundred day moving average price is $10.31.

• It Is Time To Take A Bite Out Of Del Taco Restaurants NASDAQ: TACO

Berto Acquisition (NASDAQ:TACO - Get Free Report) last announced its earnings results on Tuesday, March 31st. The restaurant operator reported $0.15 earnings per share for the quarter.

About Berto Acquisition

Del Taco Restaurants, Inc develops, franchises, owns, and operates Del Taco quick-service Mexican-American restaurants in the United States. The company's restaurants offer Mexican inspired and American classic dishes. As of August 31, 2021, it operated approximately 600 restaurants across 16 states. The company was founded in 1964 and is headquartered in Lake Forest, California.

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